Term
|
Definition
| direct and indirect costs of producing goods or services |
|
|
Term
|
Definition
| allocates both direct and overhead costs to continuous flow processing lines |
|
|
Term
|
Definition
| the process of assigning costs to custom products or services |
|
|
Term
|
Definition
| manual or electronic records created to capture and provide info about transactions or events |
|
|
Term
|
Definition
| contains all of the costs traced and assigned to a specific job |
|
|
Term
|
Definition
| a group of individual costs that are accumulated for a particular purpse |
|
|
Term
|
Definition
| assigns overhead costs to cost objects |
|
|
Term
|
Definition
| overhead is allocated using the actual volume of the allocation base times the actual allocation rate |
|
|
Term
|
Definition
| estimated allocation rate and actual quantity of the allocation base are used to allocate overhead |
|
|
Term
|
Definition
| units of product that are unacceptiable and are discarded, reworked, or sold at a reduced price |
|
|
Term
|
Definition
| consists of defective units that arise as part of regular operations |
|
|
Term
|
Definition
| spoilage that is not part of everyday operations |
|
|
Term
|
Definition
| spoiled units that are repaired and sold as if they were originally produced correctly |
|
|
Term
|
Definition
| the bits of direct material left over from normal manufacturing |
|
|
Term
|
Definition
| direct labor and production overhead costs |
|
|
Term
|
Definition
| measure the resources used in partially completed units relative to the resources needed to complete the units |
|
|
Term
|
Definition
| the cost managers expect to incur for production of goods or services under operating plan assumptions |
|
|
Term
|
Definition
| approach used to assign product costs by applying a combination of both job and process costing |
|
|
Term
|
Definition
| producing the same units in different ways (laptops) |
|
|
Term
|
Definition
| remain fixed regardless of activity levels |
|
|
